PROG Holdings, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2021
February 23, 2022 at 07:00 am EST
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PROG Holdings, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2021. For the fourth quarter, the company reported sales was USD 629.95 million compared to USD 594.02 million a year ago. Revenue was USD 646.54 million compared to USD 605.65 million a year ago. Net income was USD 37.82 million compared to USD 40.82 million a year ago. Basic earnings per share from continuing operations was USD 0.6 compared to USD 0.62 a year ago. Diluted earnings per share from continuing operations was USD 0.59 compared to USD 0.62 a year ago. Basic earnings per share was USD 0.6 compared to USD 0.6 a year ago. Diluted earnings per share was USD 0.59 compared to USD 0.6 a year ago.
For the full year, sales was USD 2,619.01 million compared to USD 2,443.41 million a year ago. Revenue was USD 2,677.92 million compared to USD 2,484.6 million a year ago. Net income was USD 243.56 million compared to net loss of USD 61.47 million a year ago. Basic earnings per share from continuing operations was USD 3.69 compared to USD 3.47 a year ago. Diluted earnings per share from continuing operations was USD 3.67 compared to USD 3.43 a year ago. Basic earnings per share was USD 3.69 compared to basic loss per share of USD 0.91 a year ago. Diluted earnings per share was USD 3.67 compared to diluted loss per share of USD 0.9 a year ago.
PROG Holdings, Inc. is a fintech holding company that provides payment options and inclusive consumer financial products. Its Progressive Leasing segment is provider of e-commerce, app-based, in-store point-of-sale lease-to-own solutions provider. The segment provides consumers with lease-purchase solutions through its point-of-sale partner locations and e-commerce Website partners. It does so by purchasing the merchandise from the POS partners desired by customers and, in turn, leasing that merchandise to the customers through a cancellable lease-to-own transaction. Its Vive segment primarily serves customers that may not qualify for traditional prime lending offers who desire to purchase goods and services from participating merchants. Vive offers customized programs with services that include revolving loans through private label and Vive-branded credit cards. Its Four segment provides consumers of all credit backgrounds with BNPL options through four interest-free installments.
PROG HOLDINGS, INC. 
